Dwight Capital has provided a $39 million HUD 223(f) refinancing loan for Timberview Apartments, a newly built multifamily community in Oregon City, Oregon. The transaction recapitalizes the 174-unit property with long-term HUD-insured financing, replacing short-term debt with a permanent structure tailored to the stabilized community.
Loan proceeds are being used to retire an existing bridge loan that was previously supplied by Dwight Mortgage Trust. In addition to paying off the interim financing, the new HUD loan will cover closing costs and fund a replacement reserve account dedicated to future capital improvements at the property. The refinance supports ongoing capital planning while locking in agency-backed debt for the sponsor.
The financing was originated by Andrew Tichy of Dwight Capital and arranged by McBride Capital, which acted on behalf of Pahlisch Commercial, described as a repeat client of Dwight. While the ownership structure is not detailed, the parties involved reflect an established relationship between the lender, mortgage trust, and the sponsorship group.
Timberview Apartments occupies more than seven acres and is organized as a low-rise community. The property includes three buildings containing 141 single-story apartment units, along with seven additional buildings comprising 33 townhouse units with attached single-car garages. The site plan also incorporates a single-story clubhouse that houses the leasing office, as well as six detached garage buildings that provide additional covered parking options for residents.
Community amenities at Timberview Apartments include a swimming pool with sundeck, fitness center, resident lounge with fireplace, bike repair and wash station, dog wash facility, and a playground. Residential interiors are finished with stainless-steel appliances and quartz countertops, and each unit features a full-size washer and dryer. Many residences offer private patios or balconies, aligning the physical plant and amenity package with current expectations for modern suburban multifamily communities.
